Unoccupied Homes.
Many homes across the Twin Cities are vacant or abandoned, some homes make it obvious by having boarded up windows or notices posted on the front door.  There really are two types of vacant homes:

 

Owned-  Often a home will be vacant because it has recently changed ownership, like when a bank has just acquired a property from foreclosure or when its a rental property that's now for sale.  Owned properties are typically a less risky venture as for the most part they where previously occupied, meaning that pipes will not have frozen, mold not allowed to run wild and so on. 

Vacant-  sometimes the owner has passed away, and no one has taken claim to the property or maybe the city has condemned the property for not being up to code.  There are many reasons why a property may be vacant or abandoned, these properties will not often be listed for sale, they will simply sit there until someone takes charge and makes an offer.

 

Buying a vacant or abandoned property.
Properties with no disclosures or occupants need to be looked at more carefully.  Have your contractor or inspector fully examine the property and give you an estimate on repairs or simply factor the worst case scenario into the offer price.  You can often get a fantastic deal when uncertainty plays a role.

 

Contact us.
If you would like to begin buying REO's or Bank Owned Properties then you should contact us, we have compiled lists of properties that are owned buy the banks.  We can help you find properties listed on the MLS as well as ones that are not.  Please feel free to contact us using the form on the contact us page any time, we look forward to hearing from you.